Staff Reporter :
Finance Minister AMA Muhith has proposed to cut tax and duties on some commodities which is likely to reduce prices of some consumer goods including liquefied petroleum gas cylinders, Talcum powder, petroleum jelly, baby food sago, stabiliser for milk, coffeemate, LED lamp and LAN (local area network) card for Wimax and wifi services.
The minister placed the National Budget on Thursday in the Parliament for the 2016-17 fiscal year.
Finance Minister also proposed to cut duties on import of materials for tier, fiberglass, locally assembled motorcycles, hybrid cars, grees, diy-octileortheothetic (DOP), self adhesive plate, sheet, film foyel, tape, stripe below 20 centimeters, certain freezers imported for pharmaceuticals industries, imported mortuary for hospitals, imported capital equipments for garment industries, firefighting equipments, rubber, materials of bio-gas plant and fly ash for cement industries, LP gas cylinder below 5000 liter and raw materials for construction sector such as cement.
The import duty on entertainment rides has been reduced in the budget as well.
